COSCO SHIPPING Ports buys stakes in two Xiamen firms

SHANGHAI : COSCO SHIPPING Ports confirmed the completion of the acquisition of 56% of the equity interest in Xiamen Haicang Free Trade Port Zone Company and 30% of the equity interest in Xiamen Ocean Gate Termina.

After the completion of the transaction, the Free Trade Port Zone Company will become a subsidiary business of COSCO SHIPPING Ports as well as its first supply chain platform.

COSCO SHIPPING Ports intends to use Xiamen in China as the core of its overall strategic layout, expanding the terminal’s business chains, constructing an integrated ports and logistics service platform, offering one-stop logistics services to customers, and constructing a win-win platform for upstream and downstream maritime suppliers.